As 2023 wraps up, Chairman of The Fine Art Group, Australia & New Zealand, Roger McIlroy, spoke with the Australian Financial Review on the art market performance in 2023.
GOOD YEAR FOR AUSSIE AUCTION HOUSES
When discussing what has factored into the success of the Australian art market over the last year, McIlroy shared this: “I think the market will still concentrate quite heavily on the unique and the top end, the really top things, because there’s plenty of people around who want to buy the top things and in any cycle those things do very well.”
Following the marquee sales of 20th/21st century art in New York, Philip Hoffman spoke to The New York Times regarding the state of the current art market.
AN INTERESTING AUCTION SEASON
With 14 live sales across the major houses—Christie’s, Sotheby’s, and Phillips—the November season saw many challenges. “While in art market terms it was a success, in business terms it was an expensive investment,” said Philip Hoffman.
ART AS AN ASSET CLASS LEADERS
Observer’s 2023 The Business of Art Power List: Art as an Asset Class has listed Philip Hoffman, alongside Allan Schwartzman, as a leading authority on transforming art as an asset class. Patti Wong & Associate’s Daryl Wickstrom was also named by the Observer as one of the Most Influential People in the Art World Today.
BUILDING THE FINE ART GROUP
Hoffman has a history of making smart decisions for himself and for the collectors and investors he serves. At 27, Hoffman became the youngest C-level executive Christie’s had ever appointed and stayed with the auction giant for the next 12 years, becoming its deputy CEO of Europe before leaving it all behind to launch his own firm. His clients include high-net-worth families—30+ billionaires, as he has described them—plus private equity firms, hedge fund managers and real estate developers around the globe. “Smart people would build an art collection with an advisor who understands how to make money, and they can buy art that they love and make a lot of money at the same time,” Hoffman told Observer in 2019. Fast forward to today, and he’s still 100 percent focused on building The Fine Art Group into the number one partner for those looking to transact at the highest levels of the global art and collectibles markets. “Assembling the most experienced and talented team in the industry worldwide is a key priority,” he tells Observer. “We look forward to expanding our network and bringing a number of new, very experienced colleagues on board.”
Patti Wong, Founder of Patti Wong & Associates, and her successful acquisition of Gustav Klimt’s Dame mit Fächer (Lady With a Fan) on behalf of an anonymous Hong Kong client for a record-breaking $108.4 million was the main topic of Artnet News’ article, “Who Bought the Mysterious Klimt at Sotheby’s? An Equally Enigmatic Hong Kong Power Broker, Some Believe.”
Philip Hoffman, Founder and CEO of The Fine Art Group, spoke with Katya Kazakina of The Art Detective about clients’ interests in the most recent May auctions for the article.
Newsfeed image credit: Gustav Klimt, Dame mit Fächer (Lady with a Fan) (1917-18).
Anita Heriot, The Fine Art Group’s President of the Americas, speaks with Bowdoin Magazine, a publication for Bowdoin alumni, about her experience in the ever-changing art world and her role at The Fine Art Group.
Newsfeed image credit: Cover of Bowdoin Magazine’s Spring/Summer 2023 issue.
Patti Wong, founder of Patti Wong & Associates, is profiled by Penta Magazine, an imprint of Barron’s. She discusses her incredible over 30-year-long career, her impact on Asia’s rising art market, and the opening of her new Hong Kong-based advisory business Patti Wong & Associates.
Philip Hoffman and Freya Stewart recognized by Spear’s Magazine
The Fine Art Group is honored to have Philip Hoffman and Freya Stewart recognized by Spear’s Magazine as top recommended professionals in their fields, Art Advisory and Art Finance. They have been ranked as experts in the art market and art finance industry for high-net-worth individuals in the UK.
VIEW EACH LIST AT SPEAR’S MAGAZINE
THE FINE ART GROUP EXPANDS REACH TO AUSTRALIA AND NEW ZEALAND
The Fine Art Group is the largest art advisory company in the world. Its new alliance with Australian-based Roger McIlroy takes its reach into the Pacific region as McIlroy accepts position as Chairman, TFG, Australia and New Zealand.
TFG Founder and CEO, Philip Hoffman says, ‘Roger has achieved an international reputation for excellence in the art world and is one of the most trusted individuals in the field. His experience, knowledge and extensive global networks make him the ideal new TFG senior resource in the region and we are delighted to have him join the team’.
Roger’s successful 30-year association with Christie’s led to the establishment in Australia of his leading independent art advisory business. Equally recognized for his expertise in the fine art auction room, Roger will continue his prominent role as head auctioneer of Deutscher+Hackett, Australia’s top auction house.
ART CONTINUES GLOBAL GROWTH AS ALTERNATIVE ASSET
This exciting new collaboration between TFG and Roger McIlroy reflects the global growth of art as a recognized alternative asset. TFG is the first international art group to respond to this shift and to move into Australia and New Zealand, providing unrivalled service and access to all aspects of the international art market. This development follows TFG’s expansion into Asia through a joint venture with former Sotheby’s executives Patti Wong and Daryl Wickstrom, and their collaboration with preeminent New York art advisor Allan Schwartzman and his team at Schwartzman&.
In Australia and New Zealand, Roger McIlroy will work in association with TFG Vice President, Leticia Hoffman, a member of TFG since 2014. With over a decade of experience in the art world, Leticia has handled some of the world’s finest artworks, gemstones, and jewels. Notably, Leticia aided with the sale of the Cartier ‘Sky Blue Diamond’ for $18 million.
With their combined skills and expertise, Roger and Leticia will continue to deliver private and corporate clients informed advice for the management, building, care and development of their art and tangible asset collections. Roger’s and TFG’s international alliances provide unrivalled leverage, offering Australian clients premium opportunities to sell, buy and secure finance across diverse categories within the art market.
Roger and Leticia will be supported by a team of 80 specialists and advisors from around the world, covering virtually every type of collecting category and available to provide ready assistance.
GLOBAL ART SERVICES POWERHOUSE
For over two decades, TFG has maintained an unrivalled track record across the art world. TFG helps clients navigate all aspects of the art market, from providing assistance with collection strategies, acquisitions, appraisals and the selling of works of art, through to art financing. This new collaboration with Roger McIlroy adds to the definition of TFG as an art industry innovator now available to meet new market demands in the Pacific region.
Philip Hoffman, Founder and CEO of The Fine Art Group, speaks with Artnet News about the Sotheby’s Modern Evening Auction results and discusses what this could mean for the future of the art market.
Newsfeed image credit: Auctioneer Oliver Barker coaxing bids from the rostrum at Sotheby’s on May 16. Courtesy of Sotheby’s.
Morgan Long, Managing Director of The Fine Art Group, spoke with Barron’s about what the low number of guaranteed works at significant spring sales may suggest about current collectors, dealers, and auction houses.
Newsfeed image credit: Gerhard Richter’s 4096 Farben, part of the artist’s Color Chart series. Tristan Fewings/Getty Images for Sotheby’s.